Polyvinyl Butyral (PVB) Market Size

Polyvinyl Butyral Market Size

Polyvinyl Butyral Market size was estimated over USD 2.3 billion in 2016 and the industry will grow by a CAGR of more than 5% up to 2025.

Rising automotive market in the emerging economies is the key factor behind the growth of the global polyvinyl butyral (PVB) industry in the study period. This product is widely used in making architectural and automotive laminated glass. Automotive OEM manufacturers utilize laminated glass for making sunroofs, side & back windows and windscreens. These laminated glasses are made through bonding PVB in between layers of two glass panels under extreme pressure and temperature conditions. Laminated glasses are used in an automobile for safety purposes as it offers protection against vehicle head injuries caused during accidents. In the past, windshields were not been designed to absorb higher force and speed of the air bags due to low strength of the glass material. PVB laminated glass has overcome the above disadvantage due to its higher strength compared to conventional glasses. PVB possesses key properties such as excellent durability, better edge stability and superior mechanical strength, which makes them a preferable choice for the automotive manufacturers. Furthermore, this product provides protection from infrared radiation & UV, noise reduction and provides overall safety to the vehicle. Increasing number of vehicle production along with changing consumer preference toward safety of the automobile is likely to increase polyvinyl butyral market demand in the study period.

Although, the product is gaining considerable attention in various end-user industries, the availability of substitutes is likely to hamper its demand in the study period. Ethylene vinyl acetate (EVA) is a substitute of the product which is used in making laminated glass. EVA offers a range of benefits compared to polyvinyl butyral such as low tendency to permeate water, and excellent adhesiveness. Thus, the challenges associated with product substitutions are likely to slow down the market growth in the study period.